Jeffrey Hanson
hey this is my first post on BP, i think i found a good deal
19 May 2021 | 4 replies
hi everyone, this is my first time posting to bigger pocketsi am an airline pilot in my mid 30s and looking to create a new life for my wife and myself and our baby on the way. i have dove deep on BP and been scouring the bookstore and the podcasts and learning as much as i can about investing in real estate. we currently live in a 1b/1ba home we own, and no longer owe any debt. i bought it for $120k in 2015 with 2br/1ba, met my wife the next year, she moved in and we gutted it and rehabbed it ourselves (aside from some structural flooring stuff and the final electric and water connections) and blew the tiny bathroom out into the adjacent bedroom, making the house a 1br/1ba. we did all the framing and flooring, paint and drywall and fixtures ourselves. we plan to add an additional bedroom or two, and possibly another bathroom, in the unfinished attic at some point. i was granted a HELOC for $120,000 with my local bank after it got reappraised a month ago at $163,000. i think we spent around $25,000 on the rehab so i'm feeling pretty darn happy about the situation. obviously the covid exodus from boston and new york have pumped real estate prices but we dont really plan on selling any time soon; but possibly renting it out if i get relocated for work.i am trying to find my first investment deal, and my wife and i have narrowed down our plan to aim for a rental with cosmetic rehab and solid tenant base. we thought about house hacking. i'm not sure of where i'll be sent next with work, but i will be sent somewhere else soon. our local market (vermont) is not very landlord friendly so we are looking at long distance, self-sufficient rental as our first investment. i am leaning toward student rentals, and after searching and comparing prices and stuff we have chosen to focus on a few different college town markets in the TN, KY, WV region. i have found a property i think might fit. its a triplex with three 1br/1ba units and off street parking, split utilities, w/d in each unit, located a half block from campus. it seems in decent shape, its been on the market over 200 days, and is listed at $190,000 in a market i believe i can ask at least $750 per unit for rent, which would bring my cash flow to near $1000/mo if i used the calculator correctly.what next??
Brian Patrick
Real Estate Investor Pitch Deck
24 May 2021 | 3 replies
I have an active Reg CF right now for our tiny home community project.
Alecia Loveless
Self storage anybody building it?
20 May 2021 | 5 replies
Then add an office and living quarter to the Storage location to live at.
Henry Clark
Self Storage- Subdivision as Collateral
25 July 2022 | 37 replies
Another option if it fit your lifestyle would be to sell your house and make a larger than normal office/home as part of your self storage location.
Matthew Franklin
Cash out refinance or heloc?
18 May 2021 | 28 replies
Also my loan officer told me that banks prefer loans instead of lines of credit.
Thang Hung
Code violation property
17 May 2021 | 1 reply
I also take a picture of code violation notice and it has code enforcement officers number.
Adam Skwersky
loss carryover rules?
17 May 2021 | 4 replies
Property has a management office taking care of rentals.You can assume I am right about not being able to deduct this year, can you tell me if I can still carry it over once I have rental income?
Roosevelt Carter Jr
How to get court records in excel format to skiptrace????
22 June 2021 | 5 replies
The property data can be obtained through you local assessor's office.
Angel Glancy
First SFH to purchase...any advice?
12 June 2021 | 2 replies
Also get quotes from minimum 2 loan officers on what interest rate they're going to quote you in additional to all-in costs.
Matthew Tarantino
A a person with a “for work only SSN” wants to buy my house
17 May 2021 | 1 reply
I can recommend a good loan officer in the area that you can hop on a call with to ask these questions.